Khalkos: Debts Settlement by Issuance of Shares

MONTREAL, QUEBEC--(Marketwired - May 3, 2016) - KHALKOS EXPLORATION INC. (TSX VENTURE:KAS) («Khalkos») announces it has issued shares in settlement of due debts to five suppliers. This settlement, however, contains some changes from the one announced on April 15. The settlement now seeks the issuance of a total of 2,123,985 common shares, at a price of $ 0.11 per share, for debts totaling $233,638.58. The main shareholder, Sirios Resources Inc. («Sirios») received 445,052 shares and ExploLab Inc., a service company which the President of Khalkos is the main shareholder, received 892,000 shares. Sirios will therefore increase its position to 8,464,421 shares representing 20.20% of the share capital of Khalkos.

The Company issued common shares in order to conserve its funds. Shares are subject to a holding period of four months and a day. The TSX Venture Exchange has conditionally approved the transaction.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.